Records Show Chinese Imports of Coal from Australia, Indonesia Spiked in November

Latest figures show that coal imports into China from Indonesia increased by about 16% in comparison to import figures from October. In the same period, coal imports from Australia also rose by almost 30%, with the increase being attributed to utilities restocking in preparation for power generation through the winter.

The General Administration of Customs also released data showing coal shipments from Indonesia, most of which are under annual supply contracts, hit 18.3 million metric tons in November. The coal has an energy content of about 3,800 kcal.

China is currently the biggest buyer of coal, with total coal imports in November reaching 43.5 million tons, an increase of about 35% in comparison to figures from 2022. In October, arrivals from Indonesia had increased from 15.8 million tons but were still far from the 20 million tons recorded in 2022.

Despite the increases, coal imports from Russia dipped to 7.3 million tons in November 2023, the lowest figure since February. In October, imports from the country added up to 7.64 million tons. Coal from Russia holds an energy content of 5,500 kcal.

With these increases, utilities in China have ample coal inventories to help meet the demand for power though the winter.

It is said that recent accidents in the mines supported domestic wholesale prices, with traders noting that the price had reached 950 yuan/ton for 5,500 kcal coal at the Qinhuangdao hub in northern China. Reports from November show that the death toll from coal accidents had risen to 26, with an additional 38 individuals being injured in a series of deadly accidents in the coal industry.

With regard to coking coal, customs data showed that imports from Mongolia hit 7.8 million tons, a new high. Figures show that this was quite an increase from the 5 million tons recorded in October. It is expected that this month’s imports from the landlocked country may decrease as heavy snowing continues to impede the transportation of coal by road.

The data also showed that coal arrivals from Australia in November increased to 6.2 million tons, making this the third highest monthly figure in 2023. This figure also represents a more than 28% increase from the 4.84 million tons recorded in October. Traders and downstream users in China have steadily increased their purchases of coal from Australia since China lifted an almost two-year ban on coal trade with the country earlier in January.

The high energy demands during winter show just how vital options such as coal energy can be from producers such as Peabody Energy Corporation (NYSE: BTU) in helping countries meet their energy needs.

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